Market Signal: Point Break

BTCUSD is breaking below the daily Ichimoku cloud (standard settings).

BTCUSD – click for big

This indicates a bearish trend confirmation from the bearish TK cross on June 14.

BTCUSD has crossed the cloud barrier six times in the past 12 months. Four of those six signals led to significant moves. This move sets BTC up for hitting targets $8800, $8400 and $8000.

Turning to BSVUSD, price remains below cloud.

BSVUSD – click for big

BSV remains stuck in a bearish pattern although price does not look as heavy as BTC.

Neither asset looks great as a hold at this time. The problem is, where *is* a good place in these crazy times?

About coinspeak

20 years as an IT consultant. Escaped the rat race in 2015. Addicted to travel and tacos.

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